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Yellen Calls on Congress to Raise Debt Limit
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WASHINGTON—Treasury Secretary Janet Yellen called on Congress to raise the debt ceiling as soon as possible, warning that the government could become unable to pay its bills after early June.
In a formal letter sent to party leaders in Congress, Ms. Yellen said the government would hit the $31.4 trillion borrowing limit on Jan. 19, when the Treasury Department will begin implementing so-called extraordinary measures to manage the government’s cash flow.
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